Saudi Industrial Export Co. — Earnings Release 2016

Mar 15, 2017

Saudi Industrial Export Co. announces the annual financial results of the period ending on 31-12-2016

4140 · 15/03/2017 15:24:13 · Announcement #45992 · View on Saudi Exchange

Saudi Industrial Export Co. announces the annual financial results of the period ending on 31-12-2016

Element	Current year	Previous year	% Change
Net profit (loss)	-6.4	1.8	-
Earning or loss per share, Riyals	-0.59	0.16	-
Gross profit (loss)	0.3	7.3	-95.89
Operational profit (loss)	-6.1	2.5	-

*All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	Reasons of losses situation Drop in sales in case we don’t have any contracts till now, also the contribution with the Asian market with new import for Saudi market without any Guarantees and studies for import cases. Also, the cost of a deal to buy Sara medical factory by the Former Directors Board In addition to the high cost of running operation compared to a decrease revenue.
Other notes	The total sales during the current period to 623,392 riyals compared to 589,014,537 riyals during the same period last year, a decrease of 99,89%. The total shareholders' equity to shareholders as of December 31, 2016 up to 112,944,888 riyals, compared to SAR 123,592,475, as of 31 December 2015, a decrease of 8,61%.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.